10x Genomics (NASDAQ:TXG – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $37.09 and last traded at $36.8650, with a volume of 10041 shares changing hands. The stock had previously closed at $36.75.
Analyst Ratings Changes
TXG has been the topic of a number of recent analyst reports. Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Barclays raised their price objective on shares of 10x Genomics from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Bank of America boosted their price objective on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. JPMorgan Chase & Co. upped their target price on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Finally, Citigroup increased their target price on shares of 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, April 7th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.
Check Out Our Latest Stock Report on TXG
10x Genomics Stock Up 0.3%
10x Genomics (NASDAQ:TXG – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.28) earnings per share. As a group, research analysts forecast that 10x Genomics will post -0.79 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other 10x Genomics news, insider Benjamin J. Hindson sold 11,595 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $283,381.80. Following the completion of the transaction, the insider directly owned 502,000 shares in the company, valued at approximately $12,268,880. The trade was a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam Taich sold 15,098 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total value of $368,995.12. Following the transaction, the chief financial officer directly owned 379,898 shares in the company, valued at approximately $9,284,707.12. This represents a 3.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 96,309 shares of company stock valued at $2,704,157. Insiders own 8.84% of the company’s stock.
Hedge Funds Weigh In On 10x Genomics
Several institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in 10x Genomics during the fourth quarter worth about $38,000. Larson Financial Group LLC grew its holdings in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new position in shares of 10x Genomics during the 1st quarter valued at about $50,000. Van ECK Associates Corp increased its stake in shares of 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of 10x Genomics by 203.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock worth $87,000 after acquiring an additional 5,025 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.
About 10x Genomics
10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.
Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.
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